AS the resource sector cools, mining accommodation start-up Village National has divested four of its lesser-performing sites for about $40 million while managing to retain three of its more strategic properties in the Queensland mining towns of Emerald and Moranbah.
Headed by Brisbane entrepreneur Jenny Hutson, Village National specialises in developing mining accommodation — renting out one-person rooms in motels and caravan parks to workers for more than $100 a night.
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Ms Hutson said coal magnate Travers Duncan remained a shareholder in the group. At one stage Village National had a private capitalisation of $80m.
Documents obtained by The Australian show that Mr Duncan is the fourth-largest financial backer of Village National, investing through his company Gaffwick, which is registered to his Sydney residential address.
OCV
octaviar limited
